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Well sadly, as suggested earlier, oil taken the next leg down, now at $60.76. Not sure if it will get taken back up by tomorrow, but in fairness it has been weak all day, attempting to go up, but fairly swiftly being taken back down. Just need the next news to take oil back up again. Will this be attempted to be kept down now until OPEC meeting, only 12 trading days left, to put pressure on them to cut ?
China US trade, not sure where it is going, with Trump you never know what the truth is, so it could change direction in a heartbeat, but China really do not trust the man and his verbal agreements. Who Would ?
Alfa, stand corrected 0.12p or another 0.36% ON TOP of the normal spread and selling costs.
That's £900 extra on some of the holding was going to sell EXTRA to what I normally pay.
My Mother told me to look after the pennies and the pounds look after themselves. :)
The point in principle is, they seem to do this when they don't want you to sell ! i.e. when they know its going down. ! Just a pattern over the years I have noticed.
I always get the feeling they know when they going to screw you when you cannot sell without them putting the spread against you.I was going to offload a few and for one tranche of £15k cannot get anything better than 12p less than price i.e. 86.64. If i want to sell just £5k I get 12p more than price i.e. 86.84. How the MM's make money and stop anyone selling large holdings......without being screwed, so they have to sell too many small lots, with all their fees.
Oil looking weak again, struggling to get back up. Would not be surprised if this oil would not take another leg down. Think they want to get oil down and seems last few times it dropped a bit, went down in similar fashion over 3 to 4 leg downs.
Not even sure why the drop yesterday fro $63.50 apart from the china US trade war still hanging about.
Come on Trump FFS, put this pain out its misery, get this trade deal done you count !
Just wish they would disappear for good.
Yes, could not even hold onto $63 for more than a few hours. Those that are trading oil making a fortune, with the swings.
And news of rebels hijacking vessel and rig, makes no difference and takes oil down 1.85%.
https://www.sandiegouniontribune.com/news/nation-world/story/2019-11-18/saudi-led-coalition-says-yemeni-rebels-hijacked-vessel
As I thought, they were going to drop oil of all a sudden. Is this the drop they going to do prior to OPEC meeting or just one of their snakes and ladders moments again.
Oil now 62.17
I understand as with what has happened to some shares, there is often a nervousness holding, especially when they keep dropping and then there is another big drop. I have kept out of Tullow for that reason as I don't want to get caught out with anything unexpected further but realise you could make a good % if it gets back up there. I bought a load of Lloyds the day I sold on the Friday, Farage announced on the Monday the 327 seats and lost 6% rise the following 2 days. Just the luck of the draw, but luck has to come both ways.
Dodger, good luck to you. Trouble is each time a game changer is meant to change things with PMO, nothing happens or it goes up, only to fall back down. I think once Zama is announced, I will be taking most off the table whatever the SP is at that time and just banking.(unless this slips back down again)
As we have said for months, until G.Sachs & the shorts / loan stock is stopped, this wont ever give true value in my opinion.
My only concern presently, is every time OPEC have their meeting oil drops a good deal beforehand and I wonder if the same pattern will happen again.
I did think PMO was stable lately and was holding up well, but once that G.Sachs RNS came out I started to have big doubt.
Hopefully one day we will get back and I and many on here, will have their day finally.
Mrd, not bothered how it gets there, waiting for around 1.12 now. Think will be out with a flash as soon as it gets there now, as this last 5 years being tiring and days like this, just tell you how bad the manipulation in shares still is.
Low volume these days, many sold out and not much big investment coming into it. Still a trading share I hate to say and until the leeches let go, will see these large ups and downs. Trouble is, it needs to make a movement up over the true value and its just plain struggling.
Whats your break even on Tullow Mrd. ?
I am in profit with PMO but i keep missing opportunities where I should take the profit. I would have made a fortune of I had traded this.
Is like snakes and ladders again.
Always something either pulling SP down, oil down or both. Nothing seems to have sustained momentum. Just when you think it will break out...it pitters out and played back into G.S. hands. FFS
Manjukwai, you may not be wrong. Certainly fighting to keep under. Mind what happens when the stock on loan reduces from 29%, surely it will be like a coiled spring. At some stage this share will lose its beta and will not be the one to hedge oil on. Maybe within the next month or two we will get there.
90p always a hard hurdle crack. Once it goes and stays above, don't think will take long to get to £1.00 .
All eyes on EIA again wed. 2 weeks to OPEC meeting.
Agree as per the PMO statement
"In August, Premier commenced a formal sales process for its interest in the fully-appraised Zama oil field offshore Mexico. There has been significant industry interest in the process and, as a result, Premier has extended the bid deadline to December to accommodate this."
The bid deadline is December (do they mean 1st or 31st ?) so once they have decided on a bid , the contractual process will then surely start, which will then proceed to money being paid across, so 3 months (Minimum March 2020) from a bid being accepted, as Straightbat states, I would have thought.
I am though slightly puzzled that if there is significant industry interest, a quick sale would be better (rather than wait a further 2 months) unless of course, they have not got the amounts they wanted in the first lot of bids. It could also work in our favour if oil takes another rise, as when it was announced on Aug 22nd oil was at 59.64 and tonight it is around $63.33, which could make a big difference to revenues. Then again I may be talking a load of ****** on a Friday night.
Off for an Indian, good night :)
Oil up again ........hallelujah, just hope OPEC don't use present oil figure and decide not to cut. I still prefer they do a cut for 3 months to give it a further lift. Its the balance between keeping it low enough to keep the rig counts dropping and high enough not to kick start shale all over again.
In fairness I would be happy at $65 oil for a year or two, get the debt down, keep shale at bay and have a more stable ongoing oil price (if there was ever or is ever such a thing ?????) and higher SP.
Anyway, good to see oil above $63 again and progress being made back up the scale hopefully.
Useless fact -
Last time Oil CLOSED above $63 was on 23rd Sept 2019 (although it did reach $63.26 as a high during day, yesterday)
On the up again....... 62.80 , this is what we need to keep the pressure on the shorters and get this back over the big psychological £1.00 again, then as the Westlife song goes, "flying without wings" to beyond.
Beerbull,
Just trying to wait for that one big pay day, which will make all the frustration worthwhile. Annoyed as came out of a good few a short while ago and now my ideal target moved from £1.06 to £1.12, so lost 6p in and out along the way. That's what this share does to you.
Anyway, I honestly think it could get to £1.30 to £1.40 but don't want to get too greedy either, where it falls back before then.
Either way, (I realise a risky investment with so much) this will set me up for a good many years if it comes off, fingers crossed. Good luck with yours and others on here as well.
Well, PMO lower now than before update, so as has been said many times before on this BB, it always drops back. I cannot recall one update where it has not dropped back in the last year or two. Of course sods law says the next one will be the one that rises and stays there.
If Tullow producing just 80k barrels, and PMO much lower debt ,this SP should be minimum £1.40 also. Shows how much is manipulation at moment.
And as I said last week, I would not trust anything Iran or middle East say. Now it appears not everything was as it seems.
https://oilprice.com/Energy/Crude-Oil/The-Truth-Behind-Irans-Massive-Oil-Find.html
Add to Iran, middles east, Russia and of course the good old Donald Trump, who as soon as he opens his mouth there is some lie or PR stunt rather than the whole truth, which makes all these oil reports as much use as a chocolate fireguard. Who can you trust these days, if not the people running these countries or our politicians. A crazy world we are living in presently. LOL
I hope not Andy, that's the problem with this share, too much debt and the market does not like the risk.
TD was tasked with getting debt down not going on spending sprees again.
The only way shareholders will finally see value is when debt reduces to a reasonable level utilising the assets already in the portfolio both now and for future.
The Zama sale will be very welcome cash into the PMO coffers and help reduce interest payments at 7%. All just in my opinion. Good luck